AMERICAN INTERNATIONAL GROUP INC

AMERICAN INTERNATIONAL GROUP INC

AMERICAN INTERNATIONAL GROUP INC
Last update 2020-02-05 3024 Stocks (49 new)
Value $25.88 Bil Turnover 13 %
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AMERICAN INTERNATIONAL GROUP INC Profile

American International Group, or AIG, is a large international insurance corporation that was founded in 191 by Cornelius Vander Starr as American Asiatic Underwriters. The company would grow quickly and, by the 1920s, would have branches located throughout Asia including China, Philippines, Indonesia, and Malaysia. The company would open its first branch in the United States, establishing the American International Underwriters Corporation, and expand its business into Latin America, which would allow the company to minimize losses due to World War II. In 1939, the company headquarters would be transferred to New York City from Shanghai. The company would continue to expand through the 1940s and 1950s, acquiring companies such as Globe & Rutgers Fire Insurance Company and American Home Fire Assurance Company. In the 1960s, the company would expand into the international and health business under Maurice R. Greenberg, utilizing independent brokers rather than agents. In 1967, American International Group would be incorporated to act as the group company for the various businesses that the company operated in. Greenberg would be named as the successor in 1968, and, just one year later, the company would go public in 1969. The next decades would be filled with growth and expansions, including the addition of specialized energy, transportation, shipping products, pollution liability, and political risk. In 1984, the company would be listed on the New York Stock Exchange. Past the turn of the millennia the company would growth both organically and through acquisitions, merging with companies such as the American General Corporation and entering new markets such as India. AIG currently serves clients in over 100 countries and jurisdictions and provides its services to almost all of the Fortune 500 companies. The company has over 65,000 employees worldwide and one of the largest public companies in the world with total assets of over half trillion. Some of the mutual funds that the company offers through SunAmerica include the Flexible Credit Fund, Focused Balanced Strategy, Focused Alpha Growth, and Money Market Fund.

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